So has the SW4 finally begun or is it again a small (one day wonder)pause like the previous day?
To answer that, I drew upon the 3 min chart so as to do a comparative analysis of the two upmoves:
Today's upmove was definitely sharper(indicating more momentum) but this might have been because of the Series Settlement also.But I choose to go be the visuals and cast my vote for SW4.
So the Counts are:
SW1=5400-5205=195
SW2=5205-5326=121
SW3=5326-4639=687
SW4=4639-- target 38.2% retracement of SW3
SW5 is likely to be truncated because of huge extn in SW3.
Thus my projection for December Series is that we may see a sideways move throughout between 4640-4920 leading to a base formation for Nifty( already in progress from 26/8/2011 onwards--
Raghu
Dear Raghu bhai
ReplyDeleteIs it possible that SW4 can extend SW3 and go all above ????? Guide me upward can be quite fast as last time it went
Vishal
As there are lot of shorts in place,short covering will cause a very fast upmove--but as SW2 was 62% of SW1;SW4 is likely to be 38.2% of SW3
ReplyDeleteDear Raghu ji,
ReplyDeleteshould this rule not be met within the fractals of sw3, the move from 5326?
The five fractals, as visible so far, do not give the deep corrective.
Would it be possible to explore the fractals and see if this bounce is ssw4 or sw4?
Dear SF,
ReplyDeleteLets not miss the jungle in the woods.
While copy-book perfection guides us to look for ssw4 , market prudence leads me to SW4.
Dear raghu bhai
ReplyDeleteSeems it will take some more pain before we start SW4
Thanks
Vishal
Dear Raghu bhai
ReplyDeletePrefect SW4 movement great analysis
Thanks
Vishal